The Spanish economy grew by 5% in 2021, according to the INE

The Spanish economy grew by 5% in 2021, as published this Friday by the National Institute of Statistics (INE). The GDP grew by 2% in the fourth quarter, demonstrating the cruising speed that the Spanish economy has taken since the second half of the year, since in the third quarter the jump in GDP reached 2.4%. The data provided by the statistical institute is above the forecasts of organizations such as the Bank of Spain (4.5%) or the IMF (4.6%) and below the forecasts of the Government, which had predicted a growth in 6.5%.

For the whole of 2021, GDP at current prices stands at 1,202,994 million euros, 7.2% higher than in 2020. The contribution of national demand to year-on-year GDP growth this quarter is 3.6 points, 1.1 points higher than the third. For its part, external demand presented a contribution of 1.7 points, eight tenths higher than that of the previous quarter.

The data offered by the INE revives the controversy over the way to account for economic growth.

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